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Keith Hutchings, Finance Critic for the Official Opposition, said the Ball Liberals are misleading about insurance tax reductions.

Thursday, January 31, 2019

St. John’s, NL (January 31, 2019) – Keith Hutchings, Finance Critic for the Official Opposition, said the Ball Liberals are misleading about insurance tax reductions.

In a news release on January 3, the Finance Minister said the tax on automobile insurance is being reduced by five points over four years, with a two-point cut starting on January 1 of this year.

Hutchings said that’s not the way it works. “In fact the tax change did not take effect on January 1 for many residents of our province. What the Minister failed to announce is the actual tax doesn’t kick in until people renew their insurance policies which could be anytime during the calendar year 2019. Until that happens, they will continue to pay the same high insurance tax that they were paying before.”

Hutchings said there is an even broader element of clarity and transparency required of the Minister.

“What the Liberals aren’t telling people is that, despite their so-called insurance tax cuts, their insurance tax will still be higher than it was when they came into office,” he said. “People are still paying more in over 300 new or additional taxes now under the Liberals, all related back to their initial 2016 Budget.

“Our people are taxed to death, and it’s got to end. High Liberal taxes are destroying our economy and driving people away by making the cost of living unaffordable. One of the greatest differences between us and the Liberals is that they are the party of higher taxes while ours is the party of tax relief while growing the economy.”

A Ches Crosbie PC Government will eliminate the retail sales tax on insurance. This is in keeping with the PC Party policy of lower taxes, affordable energy and honest government.